Turkish lira volatility gauges ignite as panic grips

Lira one-week implied volatility spiked to a record high of over 49 while the one and three-month equivalents both surged to their highest since late 2008 .

There was a wider market spillover too as euro-dollar and euro-yen one-week implied volatility levels jumped to their highest in six weeks . (Reporting by Tom Finn and Marc Jones; editing by Helen Reid)